ConnectM Technology Solutions, Inc. (CNTM): M&A transaction — ConnectM completes business combination with Monterey Capital; begins trading under CNTM

ConnectM Technology Solutions, Inc.

Business combination closed July 12, 2024; issued 14,422,449 shares to Legacy ConnectM stockholders at ~3.32 exchange ratio.
Company renamed ConnectM Technology Solutions; common stock began trading on Nasdaq Global Market under symbol CNTM on July 15, 2024.
Public Warrants with $11.50 exercise price to trade on OTC; rights converted into 920,000 shares of common stock.
Entered into indemnification agreements with directors/officers and Amended & Restated Registration Rights Agreement with certain stockholders.
Material weaknesses in internal controls identified; risks associated with early-stage DE2 market adoption.

item 1.01 item 1.02 item 2.01 item 5.02 item 3.01 item 3.03 item 5.01 item 5.03 item 5.05 item 5.06 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ConnectM Technology Solutions, Inc. underwent a change of control involving Legacy ConnectM (ConnectM Operations, Inc.) (closed 2024-07-12).

Action: change of control
Counterparty: Legacy ConnectM (ConnectM Operations, Inc.)
Closing: 2024-07-12

Exact text from the filing

On July 12, 2024 (the “Closing Date”), ConnectM Technology Solutions, Inc., a Delaware corporation (f/k/a Monterey Capital Acquisition Corporation, “ConnectM,” the “Company,” “we,” “us” or “our”), consummated its previously announced business combination pursuant to that certain Agreement and Plan of Merger, dated December 31, 2022 (as amended, the “Merger Agreement”), by and among the Company, Chronos Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger Sub”), and ConnectM Operations, Inc. (f/k/a ConnectM Technology Solutions Inc., “Legacy ConnectM”), following the approval at a special meeting of the stockholders of the Company held on July 10, 2024 (the “Special Meeting”).

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ConnectM Technology Solutions, Inc. completed an acquisition involving Legacy ConnectM (ConnectM Operations, Inc.) (closed 2024-07-12).

Action: acquisition
Counterparty: Legacy ConnectM (ConnectM Operations, Inc.)
Closing: 2024-07-12

Exact text from the filing

On July 12, 2024 (the “Closing Date”), ConnectM Technology Solutions, Inc., a Delaware corporation (f/k/a Monterey Capital Acquisition Corporation, “ConnectM,” the “Company,” “we,” “us” or “our”), consummated its previously announced business combination pursuant to that certain Agreement and Plan of Merger, dated December 31, 2022 (as amended, the “Merger Agreement”), by and among the Company, Chronos Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger Sub”), and ConnectM Operations, Inc. (f/k/a ConnectM Technology Solutions Inc., “Legacy ConnectM”), following the approval at a special meeting of the stockholders of the Company held on July 10, 2024 (the “Special Meeting”).

View on SEC.gov

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ConnectM Technology Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-080823

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